Federated shifts duties of FACS management
July 24, 2002,
Cincinnati — Federated Department Stores has shifted the duties among management in its financial, administrative and credit services (FACS) division.
James Amann, who has served as chairman of FACS since its inception in 1989, will no longer supervise FACS as of Sept. 1, although he will retain responsibility for financial services functions. He will be focusing in the future on his expanding role as executive vp of strategic initiatives for Federated, as well as overseeing Federated Direct, which encompasses the company's e-commerce and direct mail operations. He reports to James Zimmerman, chairman and ceo, and Terry Lundgren, president and chief operating and merchandising officer.
Amy Hanson, president of FACS, will be responsible for all FACS operations other than financial services and under the new management structure will report to Cole.
In other company news, Federated has joined GlobalNetXchange to leverage its online auction service.
According to GlobalNetXchange, having completed an auction pilot program, Federated will now integrate the GNX Negotiations solution into their global procurement process for apparel and other goods for resale.
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